No street or alley, or portion thereof, shall be vacated unless the Council finds that:
(A) Public use. The street or alley proposed to be vacated is not needed for the use of the public, and therefore, its maintenance at public expense is no longer justified; or
(B) Abutting property. The proposed vacation will not deny owners of property abutting on the street or alley reasonable access to their property.
(Iowa Code § 364.15) (1999 Code, § 137.04) Penalty, see § 10.99